Mammoth Energy Services, Inc. (TUSK) Market Cap
Mammoth Energy Services, Inc. has a market capitalization of $119.9M.
Financials based on reported quarter end 2025-12-31
Price: $2.48
▼ -0.01 (-0.20%)
Market Cap: 119.93M
NASDAQ · time unavailable
CEO: Mark Layton
Sector: Industrials
Industry: Conglomerates
IPO Date: 2016-10-14
Website: https://www.mammothenergy.com
Mammoth Energy Services, Inc. (TUSK) - Company Information
Market Cap: 119.93M · Sector: Industrials
Mammoth Energy Services, Inc. operates as an energy service company. The company operates in four segments: Infrastructure Services, Well Completion Services, Natural Sand Proppant Services, and Drilling Services. The Infrastructure Services segment offers a range of services on electric transmission and distribution, and networks and substation facilities, including engineering, design, construction, upgrade, maintenance, and repair of high voltage transmission lines, substations, and lower voltage overhead and underground distribution systems; storm repair and restoration services; and commercial services comprising installation, maintenance, and repair of commercial wiring. The Well Completion Services segment provides high-pressure hydraulic fracturing services to enhance the production of oil and natural gas from formations having low permeability, and sand hauling and water transfer services. The Natural Sand Proppant Services segment is involved in mining, processing, and selling natural sand proppant used for hydraulic fracturing; buying processed sand from suppliers on the spot market and reselling that sand; and providing logistics solutions to facilitate delivery of frac sand products. The Drilling Services segment offers contract land and directional drilling services, as well as rig moving services. The company also offers other services, including aviation, coil tubing, pressure control, flowback, cementing, acidizing, equipment rental, crude oil hauling, full-service transportation, and remote accommodation services, as well as equipment manufacturing, and infrastructure engineering and design. It serves government-funded utilities, private and public investor owned utilities, co-operative utilities, independent oil and natural gas producers and land-based drilling contractors in the United States and Canada. Mammoth Energy Services, Inc. was incorporated in 2016 and is headquartered in Oklahoma City, Oklahoma.
Analyst Sentiment
Based on 13 ratings
Analyst 1Y Forecast: $0.00
Average target (based on 1 sources)
Consensus Price Target
Low
$7
Median
$7
High
$7
Average
$7
Potential Upside: 182.3%
Price & Moving Averages
Related Companies in Industrials
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"TUSK reported revenue of $9.46M and a net loss of $13.64M for the period ending December 31, 2025, with an EPS of -0.28. The company has total assets of $334.89M and total liabilities of $76.61M, resulting in total equity of $258.29M, indicating a strong balance sheet with negative net debt of approximately $98.54M. Financially, the company is not generating any operating cash flow and has not paid dividends recently, marking a shift from its past dividend payments in 2018. The stock price is currently at $2.30, reflecting a 5.99% increase over the past year, although generally subdued in the short term with a 3.77% decline over six months and a 16.75% rise year-to-date. The price target consensus stands at $7, signaling potential upside. While revenue growth is positive, the negative net income and lack of cash flow compensation could pose risks for investors."
Revenue Growth
Minimal revenue growth with significant losses.
Profitability
Consistent net losses indicate poor profitability.
Cash Flow Quality
No operating cash flow with zero free cash flow.
Leverage & Balance Sheet
Strong equity position with low net debt.
Shareholder Returns
No recent dividends and minimal price appreciation.
Analyst Sentiment & Valuation
Price target suggests upside potential but lacks strong analyst confidence.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
So What?: Management’s tone is constructive—betting that aviation ramp and targeted reinvestment will drive >50% 2026 revenue growth and restore EBITDA turning positive, aiming for mid-teens EBITDA margins and positive free cash flow by 2027. However, the hard evidence in Q4 shows profitability lagging: Q4 revenue was down YoY (~-6%) and adjusted EBITDA was a larger loss ($6.8M vs $6.0M), with management explicitly blaming execution and cost overruns (especially fiber infrastructure) rather than demand weakness. Operational hurdles are concrete: infrastructure expects an EBITDA overhang through 2026, and non-aviation rentals face insurance/equipment cost pressure plus lost scale benefits. Notably, there was no Q&A—so there’s no probing from analysts to validate the plan, quantify bps/margin recovery paths, or stress-test assumptions. The stock story is therefore more “roadmap-driven” than “question-confirmed,” with key risks centered on execution, cost conversion, and utilization ramp timing.
Growth Catalysts
- Aviation rentals: full-year ramp/greater utilization (portfolio monthly revenue expected to reach ~$1.6M/month when fully utilized)
- Improved accommodations performance: +25% occupancy in Q4
- Infrastructure demand: network hardening, broadband expansion, and data-center-related work (Q4 revenue +44% sequentially)
Business Development
- Aviation asset deployment: exited Q3 with ~15 aviation assets; added 11 in Q4; 16/26 on lease at quarter-end (remaining expected to go on lease during 2026 subject to schedules/timing)
- CapEx additions in Q4: 8 APUs, 2 engines, 1 small aircraft acquired to bolster aviation capacity and support contracted deployment
Financial Highlights
- Revenue: $9.5M in Q4 2025 vs $10.9M in Q3 2025 and $10.0M in Q4 2024 (YoY -~6%); full-year revenue $44.3M vs $45.6M in 2024 (YoY -~3%)
- Bottom line: net loss from continuing operations in Q4 was $12.3M ($0.26 diluted), vs $0.20 in Q4 2024
- Adjusted EBITDA (continuing ops): Q4 adjusted EBITDA loss of $6.8M vs $6.0M loss in prior-year period
- Explicit execution issue: management stated EBITDA missed expectations due to execution/cost control (not demand)
- Segment performance: rentals segment revenue $3.3M (+19% sequential, +179% YoY); infrastructure revenue $1.2M (+44% sequential, +231% YoY) but margin compression from fiber execution cost overruns; accommodations revenue $2.8M (+24% sequential, +19% YoY); sand revenue $1.7M (-37% sequential, -67% YoY); drilling revenue $0.5M (-80% sequential, -38% YoY)
- Cost structure: SG&A $5.7M in Q4 (down from $6.9M in 2024; ~-17% YoY); on a normalized basis (excluding PREPA bad debt from 2024), SG&A declined ~22%
- Margin/EBITDA overhang expectation: management expects fiber/infrastructure to carry an EBITDA overhang through 2026
Capital Funding
- Unrestricted cash, cash equivalents, and marketable securities at quarter-end: $121.6M
- Total liquidity: ~$158.3M including undrawn credit facility
- Debt: debt-free (no debt on the balance sheet)
- CapEx in Q4: $25.9M, nearly all directed toward aviation
- Full-year 2025 CapEx: ~$70.0M, vast majority aviation
- Subsequent to quarter-end: sale of an Ohio property related to pressure pumping generated net proceeds of $4.6M
Strategy & Ops
- Aviation: expanded platform materially in 2025—deployed >$65M of capital; Q4 had 16/26 aviation assets on lease and expects remaining to roll on in 2026
- Non-aviation rentals: assets on rent increased +15% sequentially to ~328 pieces; profitability pressured by higher equipment rental costs and insurance premiums; management targeting a more strategic customer/fleet mix to reduce coverage requirements
- Infrastructure (fiber): made top-down management changes and tightened project oversight to address execution challenges, schedule discipline, and cost control
- Sand & drilling: sand constrained by pricing/volume pressure and plans to reduce lease expense for railcar fleet parts no longer needed; drilling stepped down due to customer timing and plans to high-grade asset base (motor/MWD capacity to reduce rental expense and upgrade power sections in 1H 2026)
- Company-wide cost actions: ongoing right-sizing for current portfolio; management indicates execution + cost management are central priorities heading into 2026
Market Outlook
- 2026 revenue growth target: greater than 50% revenue growth vs 2025, primarily from full-year aviation contribution at higher utilization and improved asset utilization in oil & gas-exposed businesses
- Aviation run-rate guide: monthly revenue near doubled from ~$600k in Dec to ~$1.0M in Jan; when fully utilized expected to generate ~ $1.6M/month
- 2026 non-aviation CapEx guide: ~$11.0M (maintenance + targeted growth across oil & gas and infrastructure)
- EBITDA margin target: mid-teens EBITDA margins (timing stated as moving into 2027, with positive EBITDA back within reach in 2026)
- Free cash flow goal: positive free cash flow moving into 2027
Risks & Headwinds
- No analyst Q&A occurred (operator: 'there are no questions at this time'); therefore, no additional candid risk discovery from Q&A
- Execution-driven EBITDA miss in Q4: management attributed underperformance to execution/cost control rather than demand
- Infrastructure/fiber: significant cost overruns and margin compression; EBITDA overhang expected through 2026
- Non-aviation rentals: lost some scale advantages; pressured by higher equipment rental costs and insurance premiums; risk of coverage/structure inefficiencies
- Sand: ongoing pricing and volume pressure constrained results; also need to manage lease expense burden from underused railcar fleet
- Drilling: step-down from Q3 due to customer timing; risk of utilization/profitability until high-grading and capacity upgrades are implemented
- Portfolio drag from idled operations: Other segment had fully idled operations (no revenue, only partial cost reductions), described as an unavoidable drag on profitability
- Macro/cycle mention (without quantified mitigation details): winter oil & gas slowdown caused reduced utilization and lower fixed cost absorption leading to margin compression during Q4; management emphasized right-sizing and targeted investments to improve conversion to EBITDA
Sentiment: CAUTIOUS
Note: This summary was synthesized by AI from the TUSK Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.